The global energy management systems’ market poised for strong growth, research finds


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As the level of interest into energy efficiency and low carbon solutions is ever increasing around the world, the global energy management systems’ market is also on an upward trend, as it is projected to reach a value of USD 105.86 billion by 2023, at a CAGR of 19.01% over the forecast period.

Owing to the increasing use of smart grid services, growing competition among industrial enterprises, and supporting government policies and incentives associated with energy efficiency, the market is expected to witness considerable growth in the future.

Due to the increasing environmental concerns regarding extinction of conventional energy sources, it is necessary to shift toward the use of renewable energy sources. These concerns call for efficient energy management, which has prompted many countries to generate electricity through renewable sources.

Furthermore, companies are under pressure to implement energy management systems because of the strict regulations regarding the control of environmental emissions. The customers in the market are also growing sensitive to the products they use, and changing preferences toward eco-friendly products, which is also expected to encourage the growth of the energy management systems in the industry.

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